Research On Risk Management Of International Engineering Project Of S Power Construction Company In Saudi Arabia

In recent years,due to the impact of the global COVID-19 epidemic,wars and debt crises of emerging market countries,the overall world economy has been sluggish,and the economy of Saudi Arabia has also been hit.However,with the normalization of the COVID-19 epidemic and the recovery of the international oil price,the economic situation in Saudi Arabia is gradually improving,and the market scale of construction projects is growing rapidly.More and more international engineering contractors are gathering here.At the same time,with the implementation of the "One Belt,One Road" policy,Chinese engineering project contracting company actively participates in the overseas engineering contracting spring tide,in order to seize the limited opportunity period.However,opportunities and risks coexist.In order to seize the market opportunities,many Chinese project contractors expand the Saudi Arabia market on a large scale,and they like to adopt the bidding strategy of "loss first and profit later" or "offer at cost" in order to win the bid.However,they do not investigate the Saudi Arabia regional engineering project market situation,often ignore the hidden huge risks.No matter in the bidding stage or the implementation stage after winning the bid,construction projects in Saudi Arabia are characterized by large scale,high contract amount,long construction period,high technical standards,many parties involved in the construction,and many uncertain risk factors.Risk events occur throughout the whole project chain.If the risk plan or emergency measures are not done well,there will be safety,quality,and other problems,affect the overall project progress,cause economic losses to the engineering contractor,and even lead to the final project goal cannot be completed.In order to help Chinese project contractors better avoid risks in Saudi Arabia and further improve their risk management system,the project risk research framework of international engineering contractors in Saudi Arabia is established through risk management theory from two dimensions of project bidding stage and project performance stage,taking the combined cycle power station project executed by S Power Construction Company in Saudi Arabia as an example.Questionnaire survey,brainstorming,Delphi method and other research methods are used to carry out research and analysis on project risk planning,risk identification,risk assessment,risk response and risk monitoring.The risk list of international engineering projects in Saudi Arabia is constructed,including 12 first-level risks and 29 second-level risks,such as political risk,security risk,legal risk,natural environment risk,research risk,technical risk,and construction risk.The weight of each risk factor index is determined through analytic hierarchy process and fuzzy comprehensive evaluation method,which increases the accuracy and objectivity of risk assessment.It is concluded that the main risks of international engineering projects in Saudi Arabia are security risk,research risk,market risk,construction risk,etc.,and the strategies and measures for risk response and risk monitoring are put forward to reduce the losses caused by risk events.Starting from the risk management study of a project executed in Saudi Arabia,this paper enriched the research content of international engineering project management in Saudi Arabia,provided certain reference and help for the smooth implementation of the project,and played a certain reference role for the subsequent contractors executing engineering projects in Saudi Arabia.